PAGCOR has retracted its official stance on the Okada Manila takeover by a group close to Kazu Okada, just a day after insisting that an investigation be launched.
A dispute between competing firms.
Following news of the takeover of Okada Manila’s integrated casino resort on Tuesday, PAGCOR President Alfredo Lim said he was “shocked to read that there was violence and intimidation” as the regulator was preparing to meet on Wednesday to discuss its official position on the incident and how to investigate without disrupting the resort’s operations.
After Wednesday’s meeting, PAGCOR changed its official position, saying its only interest was to ensure the continuation of Okada Manila’s operations after the group took control of properties around Okada. Lim even described the takeover as a “smooth” transition of power.
“Our only concern in the company’s dispute between competing shareholders is not to disrupt operations.”
Alfredo Lim, President of PAGCOR
When investigating why PAGCOR changed its mind, unnamed sources in Okada Manila told news outlet Inside Asia Gaming (IAG) that all Japanese employees at the property have been suspended by Okada without pay for the month of May.
IAG also claimed, without specifying the sources of the information, that all members of the board of directors of Tiger Resort, Leisure and Entertainment Inc. (TRLEI), the company that runs Okada Manila, their business phones have been cut off, while key departments in the complex such as IT, HR and Finance are physically guarded by security personnel at their entrances, and some employees, including a former chief of security From Okada Manila, they haven’t vacated the property yet.
PAGCOR officers testified that there was no violence
Camp, the former manager of Universal Entertainment Corp, TRLEI’s Japanese parent company, also issued a statement regarding the events at the integrated casino complex, denying any reports of violence and even saying that representatives of PAGCOR were present during Tuesday’s takeover.
Contrary to what was reported in the media, the allegations that representatives of Kazuo Okada, made up of “50 followers”, carried out a “violent” and “illegal” takeover on May 31, 2022, are untrue. Read the group statement. Led by Okada, which states that “Mr. Okada’s representatives included members of the Philippine National Police and four brigadier generals, and that representatives of PAGCOR were present.”
Universal Entertainment Corp. issued an official response to the actual takeover of Okada Manila on Wednesday, calling it illegal and threatening to file lawsuits against all those involved.